Govt planning stake sale in Rail infra firms

Jul 23 2014, 00:05 IST
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SummaryThe government is planning to offload its stake in certain profit-making infrastructure companies of the Indian Railways...

The government is planning to offload its stake in certain profit-making infrastructure companies of the Indian Railways — a move that will help such companies get listed on stock exchanges and raise funds for the exchequer.

“We are in talks with the Railway Board for the sale of government equity in certain PSUs managed by the Indian Railways,” a source told PTI.

There are about half-a-dozen companies which are managed by the Indian Railways, including RITES, IRCON, IRFC, IRCTC, and RailTel Corporation. Since these companies are not listed, it is likely that the initial public offer (IPO) will be accompanied by government offloading its stake. Indian Railways, which is facing a cash crunch, is looking at various ways to mobilise resources for undertaking its expansion. PTI

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